The author is a Forbes contributor. The opinions expressed are those of the writer.

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Apple Pay's Best Friend? Slow Chip-and-Dip EMV Cards

The US has long lagged behind other countries in its adoption of chip-enabled credit cards (also known as EMV cards). With a mere 37% of US businesses able to accept these EMV cards, regulators are getting ready to crack the whip on slow-moving retailers. Maybe they shouldn't bother. After all, given how painfully slow EMV cards are proving to be, a growing number of consumers are opting to dump their cards altogether in favor of Apple Pay, Android Pay, and other smartphone-based payment systems. But Apple, more than any other company, benefits from the agonizingly slow chip-and-dip delays at the checkout counter. [Tech Republic]

Capital One's New Credit Tool is Free to All Consumers

Giving consumers their credit scores for free is a significant trend in the credit card industry. Capital One took this trend to a different level by giving all consumers, not just their cardholders, the opportunity to see their credit score for free. Capital One introduced CreditWise, a mobile app and online tool that enables consumers to see their credit score as well as their credit profile. The tool shows consumers what makes up their credit score and how they can improve it. It will show balances, total monthly payment amounts, total accounts opened and number of inquiries. CreditWise will also have a credit score simulator which shows consumers how their credit score can be affected by everyday financial decisions before they are made. [LowCards.com]

Suit Seeks to End Credit Card Holds at Pump

Two Tennessee residents are suing the nation's largest diesel retailer over holds placed on their credit cards when they swiped at the pump, but an industry representative said the banks are really to blame. The lawsuits say Pilot regularly places $75 to $500 holds on customers' credit cards without their knowledge. The holds can last hours or days. A spokesman for the National Association of Convenience Stores said the policy of placing holds on pay-at-the-pump fuel purchases is an industry standard. It is driven by the banks, which require the holds to make sure purchases get paid for. [Associated Press]

FTC To Study Credit Card Industry Data Security Auditing

The Federal Trade Commission has issued orders to nine companies requiring them to provide the agency with information on how they conduct assessments of companies to measure their compliance with the Payment Card Industry Data Security Standards. [Imperial Valley News]